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of the eurozone shows continued slump in services activity. >>> plus first lady michelle obama fires up the base in the democratic national convention, making the case for voters to give her husband a second term in office. >>> let's check in on markets as we sort of near the beginning of the u.s. trading session. dow jones industrial average sitting below that 13,000 mark is looking to open lower, taking fair value into account by about 35 point. nasdaq, s&p 500 are also in the red this morning a bit of a bigger move than we've seen with indecks in the last couple weeks. part keying off attitudes we've seen in markets overnight. let's take a look at cnbc ftse 100, down spurred by parts of asian demand, the fedex profit warning we've talked about, or change in guidance, that is, european markets for their part are also in red. ftse 100 down despite better tone. xetra dax down 0.3 trs. it's unusual for us to see all the vorcies doing the same thing. >> that eurozone pmi is coming out, nudged down from the flash number. what's the impact on the spanish bond yield? they are lower than we were two d
headlines out of charlotte. first lady michelle obama speaking to the party faithful last night. bill clinton is tonight's headliner. we'll go to north carolina and check in with john harwood in a moment. >>> first, nfl kickoff, the giants and cowboys play tonight but the real game is on "squawk" this morning. we'll talk big business of the pigskin with the top nfl executive, mark wal erwaller at eastern time. and exclusive interview with indra nooyi from pepsico. and we'll talk to the owner of the new york jets, woody johnson at 7:15 eastern. and we have the owners of the cowboys and the giants, they will be live together at :15 eastern time. jerry jones and steve tisch in a "squawk box" exclusive. let's start with the top headlines, andrew. >>> let's talk facebook. it's promising not to sell stock to cover a $2 billion tax bill. it says it will cover that with existing cash and borrowing from credit facilities. as a result of the move, total outstanding shares will be reduced by 1.5 million shares. the company spinning it as a equivalent of buy back. the company disclosing rank and
worried business is. we'll have another time. thank you both. up next on kudlow, michelle obama delivers a beautiful speech. but she says her husband needs more time. take a listen. >> he reminds me that we are playing a long game here. and that change is hard. and change is slow and it never happens all at once, but eventually we get there. we always do. >> all right. we're playing the long game. i don't mean to be disrespectful to the first lady, but the president needs more time to do what exactly? we need to know what the long game is. stick around. we'll debate out. -[ taste buds ] donuts, donuts! -who are these guys? -oh, that's just my buds. -bacon. -my taste buds. -[ taste buds ] donuts. how about we try this new kind of fiber one cereal? you think you're going to slip some fiber by us? okay. ♪ fiber one is gonna make you smile. ♪ [ male announcer ] introducing new fiber one nutty clusters and almonds. [ male announcer ] introducing new fiber one and every day since, two years ago, the people of bp made a commitment to the gulf. we've worked hard to keep it. bp has paid over
behind me. last night they got a personal testimonial from michelle obama about barack obama the husband and father. tonight they will get a economic testimonial from bill clinton. what he will say is what he said in this ad that he cut in august saying republicans are running on the same old formula of cutting taxes at the top. against the democratic incumbents program that was like his. >> president obama has a plan to rebuild america from the ground up. investing in invasion, education, and job training. it only works if there is a strong middle class. that's what happened when i was president. we need to keep going with his plan. >> and michelle obama may have the highest numbers, but bill clinton is saying that barack obama moved away from his policies, but expect him to try to rebut that tonight. >> so it president obama's policy similar to bill clinton's? joining me is peter orszag. he is now the banking chairman for citi group. so president clinton got a lot accomplished in his second term as he moved toward the center. do you think president obama will have to move to the center
how much money you make but the difference you make in people's lives. >> first lady michelle obama at the democratic national convention last night making the case for re-electing her husband the president. in the next hour of "squawk on the street" we'll go to charlotte to the dnc and get a live interview with the cofounder of costco, the former ceo who has had long standing support for the democratic party. we'll talk more about that, 10:30 a.m. eastern time right here on "squawk on the street." he has put his money where his mouth is and tried to keep it a little more quiet during his tenure, active tenure as ceo, jim, but now that he is basically retired -- >> wasn't that something, your documentary remains the best way to understand this man's thinking and how he offers the best single employment plan of any private company i could find which is why, carl, how important is retention of employees? with retail it can be as high as 50%. >> amazing story. >>> facebook ceo mark zuckerberg will make his first public appearance tuesday since the tumultuous ipo in may. it will take pl
to the speech you will hear tonight from the star of the obama family, michelle obama. you know, this is just like a relay and you start off with the fastest person. >> now, of course, you're also going to hear from the mayor of san antonio, rising star within the democratic party. one of the key swing votes in this election, larry. >> john, can you ever remember a time -- i can't, when the two wives gave major prime time speeches? this is really something new, isn't it? >> i think it is, larry. and i think it has to do with the collapse of trust and authority and political figures in both parties. so these guys, both mitt romney and barack obama need a lift from their wives who soften their image, are much more popular, have much higher approval ratings. this is because public regard for washington, for people in elected office, for leaders of both parties is at a record low. >> all right. terrific stuff. many thanks, cnbc's john harwood. before i bring in my next guest, i want to play some tape. back at the dnc convention in 2008, archer davis seconding barack obama's official presidential
're relationship will be changing with the the launch of iphone 5 and as we wait for michelle obama to address the democratic convention tonight, we're going to hear from l.a.'s mayor and the chief of staff of george w. bush. >> simon, thanks so much. what a pleasure it is to welcome back "six in 60." start with man u. getting some analysts call. >> brokers of deutsch back, just don't touch this thing. go to see them in action. do not get in action with the stock. >> medvation. >> this is for late stage prostate, a very big deal. it's been a winner. >> game stop getting an upgrade from goldman. >> i don't know what they see here and i got to tell you, let it go. >> apple's price target. raised from 800 to 885. >> september 12th. this is a big data point. people are going to buy the stock right into the launch. >> union pacific. >> phil lebeau talking about auto sales. >> and a name we're going to be hearing more about, he canmann. >> i got to talk to him tonight, it's been a most disappointing stock, but i never gave up. big acquisition, looks good. >> there's a lot more tonight. >> the stock
is so appropriate. last night we heard from the san antonio mayor and michele obama in motivational terms to the key democratic constituency groups, african-americans, hispanics, women. but tonight president clinton gets the heavy lifting talking about the economy weighing down president obama with 8% unemployment, with a deficit annually over $1 trillion and with a traditional debt that's now hit $16 trillion. so what president clinton's going to do is what he did in a commercial he cut for president obama very recently in which he praised president obama's economic plans as resembling his own when he presided over the boom in the '90s. a balanced approach to deficit reduction, tax increases and spending cuts and key investments. i just talked to a senior strategist for the obama campaign who said we all know that bill clinton has his own distinctive speech making process which has to do with rewrites right up to the last minute but this aide had seen the speech. said it's not going to disappoint and precisely what democrats hope president clinton will do to tee up president obama'
. michelle obama speaks sprim time today and julien castro will give the key address. >>> mitt romney isn't enjoying the traditional post convention bounce. gallup poll rated 38% as the acceptance speech was good. >>> stick around, still to come on the program, monetary affairs commissioner olli rehn says they should be monitored by the ecb? a passionate belief, and the foundation on which merrill lynch has been built. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a steadfast commitment to help you achieve your financial goals in life. that's the power of the right advisor. that's merrill lynch. >>> here are the headlines. the ecb moves closer to unveiling bond buying plan as president draghi insists it does not breach rules on state aid. >>> david cameron prepares a cabinet reshuffle but finance minister george osborne looks set to survive. >>> central bank says it's less certain of outlook on china as australia's biggest iron ore producer has slashed spending. >>> democrats kick off
whether that combined with michelle obama and president obama's speech is going to produce a bump. it's a polarized electorate. bumps aren't easy. democrats are happy with last night. >> john, very early on in clinton's speech he really tried to own the obama line about you didn't build it. i thought that was actually somewhat surprising really trying to suggest that actually maybe that line he actually meant the first time around. >> well, democrats do mean it in the sense that not in the way in which republicans have been using it against the president, but they do believe -- i mean, it's the whole theory behind hillary clinton's book "it takes the village." we all remember that. it's the idea that collective action is a big part of our individual success, which is something that when we look at, say, a country like iraq where we've been at war, the emphasis on the rebuilding process is on creating institutions and civil society and rule of law and all the things that allow individual enterprise to prosper. that's the point the democrats were making and they're trying to drive that
on their delegate and tonight michelle obama will be speaking and john harwood is in charlotte, joining us with a preview of all the action this morning. john? >> are you sure you're done with breaking news on joe's tape worm situation? >> i don't have one yet. if i get one, i know where it's -- andrew just got back from africa, john, which i'm sure you've been there, haven't you? >> caller: i have. >> you climb kilimanjaro or something or what did you do? >> i went there several times. most of the time i was covering unrest in south africa during the 1980s before mandela was released. >> you weren't in luxury tree houses with a jacuzzi in your room? >> i have been on luxury camping situations. it's pretty cool. but most was for reporting. >> good answer. >> andrew, if he gets sick at all any time in the next three months, you're going to get blamed. >> god knows what you brought back with you. >> i'm going to bring you a prescription. >> did you behave yourself over there? she was with you? >> yes. >> you were home every night? >> don't go there. >> let's go to the convention -- >> just l
michelle obama lunch, you get like one asparagus and one sprout, no big gulps. 15.9 ounces of a coke. that is our future. i just saw it. and i don't like it. >> phil is defending it, he said you can take control at anytime, but you don't have to just sit in the car, you can -- >> did you ask him why does a driverless car need to go anywhere? >> i didn't ask that. >> comments or questions, e-mail us. squawk@cnbc.c squawk@cnbc.com. it's like brave new world. i don't like it. coming up, morgan stanley's adam parker, nowhere in his notes does it say how negative he's been. we'll check on his call on markets. last time he was with us. and then larry summers, no shortage of topics to discuss. europe, the u.s. economy, taxes, spending, the fiscal cliff, the dollar. he'll join us live. we're sitting on a bunch of shale gas. there's natural gas under my town. it's a game changer. ♪ it means cleaner, cheaper american-made energy. but we've got to be careful how we get it. design the wells to be safe. thousands of jobs. use the most advanced technology to protect our water. billions in the ec
have the democratic convention. spectacular performances by michelle obama and bill clinton. president obama got less stellar reviews, but still a solid speech. the totality of that message, when you had romney, his goal was to make people like him better. obama was to try to address the sense of disappointment many people have. from these initial numbers, they could fade back, it looks like he's done that. at least a little bit. >> john, both of these polls were done after the jobs report on friday? >> reporter: the gallup poll, melissa, is a seven-day tracking poll. so it had results from s days. only friday and saturday in that poll was after the jobs report. the rasmussen poll is a three-day tracking poll. so it's numbers included sunday, saturday and friday. so, yes, the rasmussen poll included the jobs report numbers. >> that is the one that showed obama in the lead. all right, john. thank you very much for that. appreciate it. >>> teachers in chicago are on strike today in the city's first school shutdown in 25 years. mayor rahm emanuel saying he will push to end the strike quic
, michelle obama the first night, president clinton last night and president obama tonight. i think we've got a trifecta. >> yeah. there's been some powerful speeches. it's been said that clinton in 20 seconds made the best sell for the president, better than the white house has been able to make in four years, what do you make of that? >> there's only one bill clinton. did a great job last night. i think he really summed it up is that under democrats america gets jobs. under the republicans we don't do so well, and i think our president tonight will continue the effort to make sure that americans know the facts, and heard a lot of fibs last week at the republican convention and it's time to straighten out the record. >> still though, some read it as bit of a liability, that the white house or the president himself can't make that case. in the end, politics are a singles game, not a doubles game. how much pressure son him to sell himself tonight? >> well, i'm a white sox fan, and so is president obama, and we're in first place. we're going to stay in first place, and i think president obama c
capitalism. in michelle obama's speech she said it's more important to try than to succeed. it is not how much money you make but how hard you work. >> these are all good platitudes. no one is going to disagree money doesn't help happiness and we want to help people that need help. they put forward all these platitudes as if -- they have the good stances. they want to help children. the republicans don't. they want to help people get education. the republicans don't. they want to help people have retirement. every time they say that -- >> all they want to do is talk about it. look at who they're appealing to, people who don't understand what a profit is. what they don't understand is the people who help people are the people who make the most money because making money is a sign of how many people you helped because you figured out what the consumer wanted and gave it to them at a low price and that is how you got rich. >> as long as there is competition. now it's a global market place. >> it's always been a global market place. >> but our companies need to be as lean as they can to succe
they're doing for your kids. wind much like michelle obama's speech about saying don't chase the dollar. >> you need to do it on merit and you need to be able to fire them. >> and that is the sticking point. >> i'm talking about the teachers unions, not the teachers. of course you defend teachers. >> but a good teacher, and the difference between a good teacher and bad teacher a give teacher does not -- >> you can't be fired after two or three years for the rest of your life and you make twice as much as the average person. >> >> i'm not disputing anything i said. i'm just saying the best teachers i ever had, i promise you worked around the clock. just like you do, just like becky does. >> but the difference is that the union -- >> talking about getting summers off and making $71,000 plus $15,000 in benefits versus an average $47,000 -- are you going to say happy camper next? anyway, go ahead. >> the problem is it you're not able to weed out the bad teachers. that's the problem with the teachers union. >> i'm with her and you, by the way. >> you're not. >> we are. >> then i have to chan
that at all. >> did you hear any of that, tony? >> what about michelle obama? >> i think he just cited elizabeth warren's prime time speech. >> but do you have all the good positions, the democrats do. you care about people, not greedy money. you don't want to cut off health care for old people, you you love old people, you care about educating children. and by definition, i guess republicans are on the opposite side of all those positions which is a lousy -- you staked out all the good positions. >> this is working out great. >> it's difficult to run on that platform. >> it's that kind of rhetoric actually that really makes any kind of reform just impossible, right? because any reform of any existing system means that you are by definition, you know, just -- you want to create pottervilles in america by doing anything. >> it's working, though. >> i don't understand that at all. i mean, look, let's bring it down to kind of a reality level here. reform. okay. certainly i feel very strongly that the financial sector needs reform. and financial regulatory reform which dodd-frank passed un
is, look, the president's approach is attractive to people who aren't paying taxes. >> michelle, the problem here is that mitt romney doesn't have a lot of time to make up ground. he is not trailing by a lot, but he is trailing president obama in this race. we released early numbers from the new nbc wall street journal poll. swroo we'll have the full report tonight. when you ask americans who's better prepared to lead the country, most say president obama. >> thank you, john. >> i'm going to take a contrary stance on this whole thing. whether you agree or disagree with what romney said, how refreshing to hear him say what he really believes. now we can vote yes or no based on what he has said he believes, whether you agree with him or not, right? don't you think? >> yeah, i guess. i disagree with a lot of the fundamental premise of what he said. he should care about those 47%. he should be saying to them, you know what, the economy is going to be so much better. you're going to have a job where you're going to pay taxes and you're going to be thrilled about it because you're goi
Search Results 0 to 17 of about 18